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Robert Half International Inc. (NYSE: RHI) reported revenue rose 14.7%, while net income rose less than a percent as selling, general, and administrative expenses grew faster than gross margins.
Revenue increased to $1.18 billion in the third quarter, up from $1.03 billion in the same period last year. The company said profit rose 0.4% to $74.0 million, compared with $73.6 million in the third quarter of 2006.
"Our staffing operations reported strong revenue growth compared to last year, led by our international operations," said Chairman and CEO Harold Messmer.
Revenue at the Accountemps division rose 17.5% to $443.7 million. Revenue also rose in other Robert Half divisions, including:
? OfficeTeam up 9.7% to $215.2 million
? Robert Half Technology up 20.6% to $110.2 million
? Robert Half Management Resources up 18.4% to $156.6 million
? Robert Half Finance & Accounting up 27.5% to $112.8 million.
Robert Half's Protiviti division posted a 0.8% decline in revenue to $140.6 million.
Operating income in the company's temporary and consulting staffing segment rose 20.7% to $95.5 million. Operating income in its permanent placement staffing segment fell 1.6% to $20.3 million
Robert Half shares fell 5.33% to $30.73 in late morning trading.
Robert Half International Inc. (NYSE: RHI)
For the third quarter ended Sept. 30, 2007, compared with the same period in 2006
Revenue: $1.18 billion, +14.7%Net income: $74.0 million, +0.4%